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Crypto roundup: Big brands push forward with blockchain plans

In Insights

In this week's crypto roundup, we find out which leading brands are getting serious about crypto, firming up their plans to adopt blockchain tech and integrate it into their business plans. 

IBM steps into crypto

IBM has previously shown a lot of interest in crypto and blockchain.

Now, IBM has unveiled a payment network using stable coins or other digital assets/cryptocurrencies that can facilitate cross-border payments and foreign exchange in real time.

More than 70 countries and 47 currencies are included in this new payment system.

The technology, known as IBM Blockchain World Wire, utilizes the Stellar protocol.

With IBM Blockchain World Wire, two parties agree to use a digital asset, such as a stable coin, as a ‘bridge asset’ between two fiat currencies. The settlement between the two parties is carried out with the agreed asset.

IBM claims World Wire increases the trust, simplicity and efficiency of payments and settlements.

Twitter CEO looks for talent

Twitter and Square CEO Jack Dorsey recently introduced Square Crypto.

While the goals of this endeavor are currently unclear, Jack shared on Twitter that Square is hiring full-time crypto engineers and a designer to work on the open source ecosystems of Bitcoin and Ethereum.

Jack has said he believes this is a great way to give back to the open source ecosystem as a whole.

Adoption continues

The reach and adoption of cryptocurrency grows every week.

Digitec Galaxus, the leading online retailer in Switzerland, now accepts a wide range of cryptocurrencies as payment.

The system utilizes a gateway that locks in an exchange rate for 15 minutes to ensure customers are paying what they expect when they make a payment.

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This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.

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